We all know that email marketing is a powerful way to generate leads and build lists. Email marketing can also be used to increase conversion rates. I'm not referring to massive email blasts to everyone in your database, but rather a careful, thought-out email strategy that keeps your prospects engaged and moves them along the sales process.
Research has shown that many leads are not adequately followed up on and in market conditions where there is fierce competition over leads, many homebuilders and real estate marketing and sales professionals have developed, or need to develop, lead nurturing strategies that keep the prospect interested; and, importantly, build a system where leads are not able to fall through the cracks. We have come to accept low conversion rates for various marketing efforts. In the new home development industry, it's very apparent that marketing efforts like print advertising and sales center launches that may have worked a couple of years ago, are not as effective today. Using a Real Estate CRM system, like Lasso, can ensure that leads are being managed and consistent sales processes are in place for lead nurturing and targeted email campaigns. Marketing efforts can be tracked and analyzed and adjustments made as you learn what works and what doesn't work as well.
Prospects should be nurtured using email marketing (Lasso combines email marketing and lead management into one integrated solution). But an email marketing strategy does not consist of sending email after email to your entire database to see what sticks. Relevancy is the key to the success, along with timing and frequency. Segment your lists and put yourself in your prospects' shoes. What's important to them?
Lead Nurturing is a powerful strategy to be used with email marketing. Lead ratings (such as A, B, C, etc ) and scoring methods can be used while using email marketing as a follow-up communication tool. You can also review the ‘behavior' of the prospects such as whether they have been opening emails, what they have clicked on and if they've forwarded the emails on.
Don't forget the human touch. What did we do before email? We made more phone calls, visits and used direct mail. Email provides a great mechanism to get information out quickly and at a fraction of the cost, however, it doesn't mean that human intervention is not needed. But if you incorporate effective email communication and take time to analyze and gain intelligence about prospect online behaviors such as website session tracking and email analytics, sales professionals can determine when they should pick up the phone and will be able to engage in home buyer prospect in a much more effective, relevant and personal way. And sell more at higher conversion rate!